A Scottish-managed property trust has made its second acquisition this week with a £21m deal to buy a warehouse in France.

The Aberdeen Standard European Logistics Income fund said it had exchanged conditional contracts to acquire the logistics warehouse located in Meung-sur-Loire, near Orleans. The property is fully let to office supplies firm Office Depot France until 2026.

On Monday the trust, managed by Aberdeen Standard Investments, said it had signed deals to buy sites in the Netherlands worth a total of £55m.

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“The pipeline of investment opportunities for the company remains strong, with the investment manager at very advanced stages of due diligence on a number of potential acquisitions,” said the trust. “As a result the company is also in the process of putting gearing facilities in place, secured on certain properties within the portfolio, to provide financing for additional assets and to fund stage payments that are required for forward funded projects,” it added.

The trust, which raised £187.5m, was the first launched by Aberdeen Standard Investments following the merger of Aberdeen Asset Management and Standard Life.